Bitcoin could soar more than 100% if rare ‘supertrend’ signal is triggered
The cryptocurrency ecosystem is on a sustained recovery trajectory, with Bitcoin (BTC) price triumphantly leading the comeback. At the time of writing, the coin was up 3.5% to $46,254.46, reaching its highest level in recent weeks. With the current outlook, Bitcoin extends its growth rate over the past week by 7.18%, highlighting how the market has transformed overall.
rare bitcoin signals
according to Bitcoin price is exhibiting a rare “supertrend”, flashing a “buy” signal on the monthly chart, according to insights from top market analyst Ali Martinez. Notably, analysts say that the formation of these signals involves huge price movements, a setup that has already been implemented in Bitcoin as well.
Martinez pointed out that in the four times this signal appeared in Bitcoin’s history, the price went parabolic, reaching 169,172%. 9,900%; respectively he experienced rapid growth of 3,680% and 828%.
Capitalizing on this trend, Bitcoin could be primed for a surge of over 100% if the historic bull market chooses to unfold again. This ambitious price level could imply a price increase of more than $100,000, a trend that would confirm market analysts’ predictions over the past few months.
The basics are ripe
While the technical settings for Bitcoin price indicate that a major uptrend is on the horizon, the fundamentals are also positive given the impact of spot Bitcoin ETFs.
In addition to this, the upcoming Bitcoin halving event could also be a major catalyst for significant price increases over the long term. Expected sometime in April, market leaders like Samsung Mo are optimistic that a major share price rally is imminent.
This expert paper is based on the supply squeeze being caused by Spot Bitcoin ETF issuers and the overall impact of the halving event.
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